Gilder Gagnon Howe & Co. LLC decreased its position in Freshpet Inc (NASDAQ:FRPT) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,131,693 shares of the company’s stock after selling 133,650 shares during the quarter. Freshpet accounts for 1.4% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 17th biggest holding. Gilder Gagnon Howe & Co. LLC owned approximately 5.27% of Freshpet worth $178,337,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new position in shares of Freshpet during the 1st quarter valued at approximately $1,060,000. BNP Paribas Arbitrage SA increased its position in shares of Freshpet by 533.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 32,473 shares of the company’s stock valued at $2,074,000 after purchasing an additional 27,347 shares during the last quarter. Strs Ohio increased its position in shares of Freshpet by 102.7% during the 2nd quarter. Strs Ohio now owns 15,200 shares of the company’s stock valued at $1,271,000 after purchasing an additional 7,700 shares during the last quarter. Citigroup Inc. increased its position in shares of Freshpet by 31.4% during the 1st quarter. Citigroup Inc. now owns 10,138 shares of the company’s stock valued at $648,000 after purchasing an additional 2,420 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Freshpet by 21.4% during the 1st quarter. Wells Fargo & Company MN now owns 603,698 shares of the company’s stock valued at $38,558,000 after purchasing an additional 106,286 shares during the last quarter. 96.40% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on FRPT. Zacks Investment Research downgraded Freshpet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Truist Financial upped their price objective on Freshpet from $70.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. They noted that the move was a valuation call. Oppenheimer assumed coverage on Freshpet in a research report on Monday, August 3rd. They issued a “hold” rating on the stock. TheStreet raised Freshpet from a “c” rating to a “b” rating in a research report on Monday, August 3rd. Finally, BidaskClub raised Freshpet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Freshpet currently has an average rating of “Hold” and an average price target of $87.08.
Shares of NASDAQ FRPT traded down $0.99 during mid-day trading on Friday, reaching $108.02. 399,973 shares of the company were exchanged, compared to its average volume of 316,085. The company has a quick ratio of 7.93, a current ratio of 8.89 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $102.34 and a 200 day moving average of $80.17. Freshpet Inc has a 1 year low of $40.79 and a 1 year high of $116.60. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 1,080.31 and a beta of 0.77.
In other Freshpet news, VP Stephen Macchiaverna sold 4,856 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $114.00, for a total transaction of $553,584.00. Following the transaction, the vice president now owns 88,973 shares in the company, valued at approximately $10,142,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Weise sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $101.73, for a total value of $610,380.00. Following the completion of the sale, the executive vice president now owns 3,600 shares in the company, valued at approximately $366,228. The disclosure for this sale can be found here. Insiders have sold a total of 48,738 shares of company stock worth $5,162,710 in the last quarter. 4.50% of the stock is currently owned by insiders.
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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